Fintech Funding: Automated mortgage fintech EarnUp closes $31M series C

Automated payments fintech EarnUp announced Tuesday that it raised $31 million in a series C funding round. KeyBank and LendingTree led the round, with participation from Bain Capital Ventures, SignalFire, Blumberg Capital and Flourish Ventures. [caption id="attachment_221714" align="alignright" width="300"] Photo by CanStock[/caption] EarnUp automates payments and uses just-in-time data to streamline mortgage and financing for retail customers, with adjustable autopay and payment pauses among the fintech’s offerings. The ability to use digitization for wealth management and financial wellness was central for KeyBank, Clark H. I. Khayat, the bank’s chief strategy officer, said in a release. “Embracing new technology and investing in innovative fintech companies like EarnUp helps us improve customer satisfaction — and allows us to provide our clients and communities with accessible payment solutions,” Khayat said. EarnUp has raised $59 million over six rounds, according to Crunchbase. The new funding will go toward further streamlining data flows for borrowers and institutions. DeFi risk modeling platform Gauntlet secures $24M Decentralized finance (DeFi) risk modeling platform Gauntlet raised $23.8 million Monday in a series B round, growing its valuation to $1 billion. The funding round was led by Ribbit Capital, with participation from previous investors Polychain Capital and Paradigm. New York City-based Gauntlet deploys data algorithms from cryptocurrency exchanges to help DeFi firms automate lending and collateral decisioning. Tarun Chitra, co-founder of Gauntlet, said the company’s product works as a “stress test” for institutions operating in a high-risk DeFi environment. Gauntlet has raised a total of $44.8 million over four rounds, according to Crunchbase. The company will use the funding to expand its business operations into new sectors. Japanese fintech Kyash nabs $41M Mobile banking fintech Kyash announced Thursday that it raised $41 million in a series D round. The funding was led by Japan Post Investment Corporation, with participation from Block, Greyhound Capital and SMBC Nikko Securities and others. Kyash’s flagship product is a mobile banking app with payment and ATM withdrawal options, but the fintech also issues virtual and physical prepaid cards. Operations are currently limited to the Japanese retail market, although overseas expansion remains a possibility. The fintech plans to use the funding to increase headcount and strengthen product growth. It is the latest of six funding rounds, which have raised a total of $108 million, according to Crunchbase. DailyPay gathers $300M for earned wage access Payroll fintech DailyPay received $300 million in revolving credit facility, the company announced Thursday. British bank Barclays provided the capital, and the fintech plans to use the funding to expand earned wage access for global employers. “A fortress balance sheet is essential to be a leading company in on-demand pay," Jason Lee, CEO & Co-founder at DailyPay, said in a release. "This credit facility will allow us to work with more of the largest employers in the country to offer on-demand pay to their employees." DailyPay is no stranger to large funding rounds, with a joint series D and debt financing round in May 2021 securing $500 million for the company, according to Crunchbase. The company has raised a total of $814 million over 10 rounds. Access the Emerging Fintech Directory , a comprehensive fintech database with more than 300 entries. Submissions to the EFD can be made here.

Fintech Funding: Automated mortgage fintech EarnUp closes $31M series C

DeFi risk modeling, earned wage access all see major funding rounds

Listen: Banking leaders reveal how to garner innovative ideas

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Fintech Funding: Automated mortgage fintech EarnUp closes $31M series C

DeFi risk modeling, earned wage access all see major funding rounds

Listen: Banking leaders reveal how to garner innovative ideas

How digital workers put AI to work

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